BitMine Immersion Technologies Inc. (BMNR) saw its stock soar 8.71% in pre-market trading on Monday, as part of a broader rally in crypto-related stocks. The surge comes amid positive momentum in the cryptocurrency market, particularly driven by Ethereum's recent performance.
Ethereum, the second-largest cryptocurrency by market capitalization, has climbed above $3,700, trading at $3,741 with a 4.27% increase over the past 24 hours. This upward movement in Ethereum seems to be fueling optimism across the crypto sector. Adding to the bullish sentiment, recent data from Farside revealed that U.S. Ethereum spot ETFs experienced a substantial net inflow of $2.1824 billion last week, indicating growing institutional interest in the crypto space.
BitMine's pre-market rally is part of a wider trend among crypto stocks. Other notable gainers in the pre-market session include SharpLink Gaming (SBET) up 16%, Upexi (UPXI) climbing nearly 15%, and BTCS (BTCS) rising 12%. Industry giant Coinbase also saw a more modest 2% increase. As the crypto market continues to show signs of recovery and institutional adoption, investors appear to be positioning themselves in stocks with exposure to the digital asset ecosystem.
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